Ethio Telecom’s profit jumps over 80% as it eyes listing on the Ethiopian Securities Exchange. Telebirr hits 54.8M active users.
Ethio Telecom Profit Leaps 80%, Eyes Stock Market Debut
ADDIS ABABA, July 29, 2025 – Ethio Telecom has reported a significant rise in earnings, with pre-tax profit growing by 80.3% for the financial year ending June 2025. The company also confirmed plans to list on the Ethiopian Securities Exchange — a major step in Ethiopia’s ongoing economic reform program.
The state-owned telecom firm posted 38.1 billion Ethiopian birr (around US$656 million) in pre-tax profit, up from 21.1 billion birr the previous year. Its rapid expansion is largely credited to growth in both mobile subscriptions and digital financial services.
Ethio Telecom now boasts 83.2 million mobile subscribers, maintaining its dominance in one of Africa’s fastest-growing telecom markets. Its digital payment platform, Telebirr, continues to grow, with 54.8 million active users, making it a key player in Ethiopia’s financial inclusion drive.
“We are proud of our performance, which reflects the strength of our team and our commitment to innovation,” said CEO Frehiwot Tamiru, during the release of the company’s annual results.
IPO Plans and Market Reforms
Ethio Telecom’s planned listing on the Ethiopian Securities Exchange marks a major shift in a sector long dominated by public monopoly. The exchange — backed by FSD Africa and the Ethiopian Investment Holdings — is expected to go live by late 2025.
The IPO will give local and international investors access to one of the region’s most profitable telecom firms and help inject private capital into Ethiopia’s infrastructure and innovation ecosystem.
The listing also aligns with Ethiopia’s broader Digital Ethiopia 2025 strategy, which seeks to modernize public services and promote private sector-led growth.
Rising Competition
Despite its strong performance, Ethio Telecom now faces competition from Safaricom Ethiopia — a subsidiary of Kenya’s Safaricom Plc — which entered the market in 2022. Safaricom has since grown to over 4.6 million users and is expanding its mobile money service, M-Pesa, in Ethiopia.
Yet Ethio Telecom’s early advantage, extensive infrastructure, and rapid rollout of new services have helped it retain market leadership.
Future Outlook
As Ethiopia continues to attract investment into its telecom and tech industries, Ethio Telecom is positioning itself to remain a central player. Its focus on service diversification — including cloud services, e-commerce, e-health, and digital payments — reflects its long-term strategy to evolve into a digital solutions provider.
The company has not yet announced the exact timeline for its IPO, but industry observers expect movement once the securities exchange officially opens.
